I see a few dial screws on the back but none really say anything. One is set on 5 from a 1-5 setting, the other I don't see it saying anything or what it actually does.
I really never thought they were adjustable either, but on a whim I searched the internet and came up with this document from Faria who I believe makes the gauges for seadoo. The pdf has instruction about how to calibrate the speedo, might help?
http://faria-instruments.com/site_manuals/IS0100_Speedometers.pdf
http://faria-instruments.com/site_manuals/IS0105H.pdf
Adjusting the speedo is the ultimate secret to making your boat run faster for a whole lot less money.